Industrial Robotics Market Is Estimated to Reach US$ 48,166.9 Million by 2025

China dominates the market for Industrial Robotics with around 30% share of the total market

The global Industrial Robotics market is US$ 16,847.6 million in 2017 and is estimated to reach US$ 48,166.9 million by 2025. The adoption of industrial robots, in the current market scenario, is gaining traction in diverse industries globally. However, the adoption of industrial robotics in China continues to surge. The Chinese market for industrial robotics accounts for around 30% of the total global market share. Manufacturing is the chief sector of the China’s economy. As per the World Bank’s latest statistics, China’s manufacturing industry contributed 29% in the total GDP of China.

The accelerating manufacturing industry of the country provides prosperous opportunity to the industrial automation companies to invest in the region. Further, the constantly rising labor costs coupled with the rising aging population of the country is another factor influencing the demand for industrial robots in the China. As per the United Nations, the country is witnessing a rapid increase in its ageing population than almost any other nation in the recent history. It is projected that the country’s aging population will account for about 329 million in 2025, which is more than the collective population of Japan, Germany, France, and U.K.

Another major factor contributing to the market demand for industrial robotics in China, is the immense support by the Chinese government for the adoption of robotics with an aim to boost the country’s manufacturing sector. In April 2016, the government of China introduced a five year plan, the Robotics Industry Development Plan 2016 – 2020 for supporting the expansion of the country’s industrial robotics sector. The plan aimed to increase China’s industrial robots production to 100,000 by 2020. However, in the first ten months of 2017, the country’s production of industrial robots exceeded 100,000, as per the Ministry of Industry and Information Technology. The Chinese government offers subsidies and tax benefits to the local companies engaged in manufacturing of industrial robots. Further, the “Make in China 2025” national program aims to enhance the adoption of robotics in the country. In 2015 itself, the government of Guangdong Province made an investment of US$ 150 Bn to promote automation as well as to support robotics innovation.

With the continuous increase in the demand for industrial robots in China, several companies are either setting up their manufacturing facilities in the country or expanding their existing manufacturing capability. For instance, in 2018, Estun Automation, an automation products manufacturer in China, started manufacturing industrial robots in the company’s new plant located in Nanjing.